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Podcast: My Worst Investment Ever Podcast
Episode: Harley Bassman – Sizing Is More Important Than Entry Level
Description: BIO: Harley Bassman is an industry thought leader and commentator on macroeconomic issues spanning decades.STORY: In 2019, Harley bought some calls and sold some puts on Citibank stock for a cost strategy. He believed the stocks would increase because all its peers were trading above their book value. When COVID came, the stocks went south, causing Harley to make his biggest loss ever.LEARNING: When something trades well below what you think its value is, consider why that’s the case. Size the investment. “Forget timing; size the investment. Pick the size such...